Tag: different

Dan Morehead, the CEO of bitcoin investment firm Pantera Capital, says everyone needs to chill out about the current Crypto Winter. Morehead reminded the myopic industry that the crypto space had weathered similar bear markets before, and this one actually bodes well for the future of bitcoin and blockchain. ‘Underlying Fundamentals Are Much Stronger’ “This is actually our second Crypto Winter,” Morehead said on Laura Shin’s podcast Unconfirmed (audio below). “There was one in 2014 to 2015. In the previous one, I had more of a worry in the pit of my stomach about whether blockchain was actually going to work.

I did some research on the value of the dollar over the course of US history (at least, as far back as I could find. What I discovered was that the value of the dollar relative to the *median* price of gold over the last 225 years has crashed significantly and not recovered twice. *Only* twice. Once was at the beginning of the great depression, and the other was the minute the gold standard was abolished.

Note: There was a scenario on a similar scale of the great depression during the Colorado Gold Rush of 1859, but this only applies to gold and I think this is due to peoples' tastes and preferences leaning towards gold. The gold rush must have affected demand more than supply, because the price nearly doubled. That's the only thing I can think of to explain it.

Regardless, the price of gold returned to the median in just a little under two decades — very short in the history of the US. Here are the excel graphs I made that caused me to discover this phenomenon. https://imgur.com/a/FpEVl0W

The ecosystem around bitcoin is still changing, but U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo said the popular cryptocurrency is part currency, part security and part digital coin. "Bitcoin and a lot of its other virtual currency counterparts really have elements of all of …Google Alert – bitcoin